Posted 4 years ago on Dec. 25, 2013, 8:29 p.m. EST by BradB
(2693)
from Washington, DC
This content is user submitted and not an official statement

Published on Dec 24, 2013
Wayne Walton is a leading proponent of local currencies. He is well-known as an expert on organic money. He has also spoken extensively on the subject.

Local currencies have become more popular as towns and cities try to keep local business thriving. Instead of relying on dollars printed by the Federal Reserve, locales around the country are trying to keep their economies local.

Such private monetary systems are sometimes called organic currencies. Supporters of private money say their currencies are created without debt. Critics say such plans can be dangerously unstable.

One of the towns adopting a local form of monetary exchange is the college town of Ithaca, New York. The home of Cornell University is also the location of Ithaca Hours. This currency has been highly successful. It is now accepted by over 900 local vendors. This program is now the model of the new Mountain Hours being introduced in Summit County, Colorado.